Freedom Finance has received its first mortgage case from a Pink Home Loans member.
Peter Tait from Cameron-Hemley, based in Bournemouth, submitted the first acceptable case and received £250 gift vouchers, which were presented by Pink Home Loans' business development manager for the South West, Andy Keen.
Tait says: “The Freedom Finance deal was very attractive, not only because of the very competitive rate but also because of the way Freedom Finance uses an affordability calculation to determine a sensible borrowing limit.”
Keen adds: “Freedom Finance uses individual underwriting to assess each case on its merits and by looking at affordability rather traditional income multiples, the lender allows clients to borrow more realistic amounts.”
The Freedom Finance range of products was launched exclusively through Pink Home Loans at the beginning of May and was developed to address restrictive lending criteria, such as limited income multiples, credit score based underwriting, higher lending charges on prime products and inadequate loan to values.